You must be living in a cave. Lower prices for the common man are the worst possible thing according to our central bankers. They simply have to keep printing at full speed because inflation is not high enough. Providing free money to banks and insolvent gov'ts is just an unfortunate consequence of that.

You eventually come to the hard place where part time work, waitress tips, and student loans don't add up to mortgage money no matter how low you drop the down payment and relax the underwriting standards.

Japan's debt is just as unpayable as Greece's is...same with the U.S., the U.K., France, etc, etc. just nobody (no sovereign) has had the stones to call them on it yet. When they do, the whole fiat world is going back to the dark ages. Greece could be the trigger that starts it...which is why you are suddenly seeing the Eurozone d-heads cry for Greece to take a bridge loan when they wouldn't offer one last week.

Syriza has already achieved what they needed to just by winning the election. Deal or not, the Eurozone should be doomed by what happens with the emboldened populations in Spain and Italy. While a deal is likely - based on the lenders need to get something done, not Greece's - Tsipras may just give Merkel the full Monty depending on what he's been offered by Russia and China.